Gold – Gold breakout above its 1111.70 resistance level yesterday which opened up the door for potential further rally in the coming days. Traders who went long at the pullback of 1082.00–1079.00 support area as we recommended in our 13th January 2016 Market Outlook may consider continue holding onto the long position while traders who missed the long opportunity may consider buying into the market when price pullback to the 1111.70 support level (Previous support level).
Pound Loonie – GBP/CAD pullback into its 2.0359 resistance level and fell lower as we expected in our 22nd January 2016 Market Outlook. Traders who went long as we recommended may continue hold onto the short position with a trailing stop behind as price is likely going to continue to move lower in the coming days.
Euro Aussie – EUR/AUD once again pullback into its 1.5330 support level which traders may hunt for buying opportunity. The short term trend is still bullish at the moment thus traders would have higher probability trading the long side.
Posted on 2016-01-27 08:46:33